Austria comes out on top in euro awareness survey

Date: 07/06/01

By Laurence Frost

AUSTRIA is far ahead of its euro partners in preparing its business community for the introduction of the single currency, a new study will reveal.

The survey by consultants Cap Gemini Ernst & Young identifies the countries where small and medium-sized enterprises (SMEs) have been well prepared, and those where the euro launch could spell crisis for some companies.

Austria tops the bill for its "pro-active approach" to the currency launch, but results for Portugal and Spain are described as "ineffective" and even "distressing". "Austria has put some of the others to shame," said Garry Parker, of small business association UEAPME, which commissioned the study. "They've put up help desks, interactive websites and offices in every area."

The survey coincides with mounting criticism that government and business bodies are doing too little too late to prepare for the changeover, with a recent Eurobarometer report from the European Commission showing that 66% of smaller firms across the Union had made no preparations.

The study estimates that 90% of Austria's 280,000 smaller firms have been exposed to material from the Economic Chamber, including eight publications, two websites and one project.

But the chapters on Portugal and Spain tell a different story. Portugal is dubbed "the least effective in terms of reach", involving fewer than 100 of its 689,000 registered SMEs.

The findings are to be unveiled at UEAPME's Eurobest conference in Brussels on 2-3 July.

Austria is far ahead of its euro partners in preparing its business community for the introduction of the single currency, a new study will reveal. The survey by consultants Cap Gemini Ernst & Young identifies the countries where small and medium-sized enterprises (SMEs) have been well prepared, and those where the euro launch could spell crisis for some companies.